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they think we could find compromise. and we're also watching the situation in the middle east. israel launching a major offensive against palestinian militants in gaza. israeli aircraft tanks have pounded the coastal strip. in response more than 100 rockets have been fired. martin fletcher will join us with the latest. oil prices off by about nine cents. crude oil at this point 86.23. steve, a lot of ground to cover and you have more of our other headlines, as well. thanks for being here. >> good to be here. china's ruling communist party unveiling its new leadership team today. vice president xi jinping taking over from hu jintao. he'll head a team of seven members in the new politburo standing committee compared to nine. they'll have to tackle everything from social unrest to issues with domestic and global economics. back here in the u.s., reports from walmart and target. at 8:30, we get weekly jobless claims. october consumer price index. and the november empire state survey. in corporate news, bp expected to pay a record u.s. criminal penalty and plead guilty to criminal miscondu
for our economy. so the question is now another topic. will israel launch a major ground operation to wipe out hamas? the israelis did take out another top hamas leader today. not long after, air raid sirens went off in jerusalem, and egypt sends its prime minister to the gaza strip in a show of solidarity with the -- and did general petraeus pull a 180 degree turn in testimony today? in september he said it was videos and spontaneous demonstrations. today he said the cia knew all along it was a terrorist attack in libya. this story gets worse and worse, more and more complicated and we are going to parse through it. first up, with the fiscal cliff only 45 short days away, are we facing a stalemate or is there a new kissy huggy era coming to washington, d.c.? we've got two kissy huggy cnbc contributors. jared bernstein, former vice president, biden chief economist, and kissy huggy jim pethokoukis of the american enterprise institute. jimmy p., i love this new washington picture. and i don't want to be pessimistic. i want to be optimistic. maybe they can make a deal. but here's what i worry
three in israel. the u.n. warns netanyahu to avoid a new cycle of blood shed. and president obama throwing down a challenge to congress as he gets set to begin critical budget talks on friday. >>> i want to bring you the italian gdp figures. italy is just the latest p second quarter figures were revised higher to 0.7 contraction from 0.8. third quarter gdp looks like it's fallen 0.2% on the quarter. that's better than was expected. it was expected to fall by about half a%. it is down 2.4% on the year. we'll get the rest of the eurozone figures out at the top of the next hour. >>> also coming up, we'll be live in beijing with updates throughout the show as xi jinping it takes over as the head of the communist party. we'll be in frankfurt for a look at how that economy has been affected. gdp showing a slowdown for germany in the third quarter. and we'll hear from the former head of the council of economic advisers austan goolsbee on how the u.s. can avoid falling off the fiscal cliff. plus we'll take you live to tokyo with japan hit by election fever. the yen is falling as a repeate
on to the streets to celebrate as cease fire ends eight days of deadly strikes between israel and hamas. we kick off three hours with the euro son flash services pmi, 5.7. a little weaker than consensus. lowest since july 2009. business expectations 48.6. manufacturing manufacturing pmi 46.2. composite pmi as a result 45.8, which is pretty him bang in line with the reuters poll. so service sectors worst since july 2009, decline in manufacturing eased a little bit more than expected in november. joining us, chief european economist. ricar ricardo, thanks for joining us. so still a negative territory. what does this point to in terms of the economic decline for the fourth quarter? >> i think it's in line with the idea that real sgchlt dp will decline by at least 0.2%, possibly 0.3%. it will give us a negative entry point in 2013 when i expect an average growth of minus 0.2%. so still moderately recession territory. >> the german flash composite pmi 47.9, services 48, manufacturing 46.8, is germany -- we just saw the 0.2% print. is girl aermany going to have a negative contract? >> i'm looking for a co
. >>> welcome to "worldwide exchange." these are your headlines. air strikes between israel and gaza continue. the egyptian prime minister vows to spare no effort to achieve a truce. >>> in 30 days, japan may see its seventh prime minister in six years as the country dissolves its lower house and sets the stage for a possible comeback. >>> and president obama meets with top u.s. lawmakers to begin budget talks as the fiscal cliff looms. both sides are digging in their heels on on tax hikes and spending hikes. against all of the political changes we're seeing today, first i want to show you the market action. stoxx 600 is sitting roughly flat, but we've seen interesting trading session where the nikkei really surging to the up side again today. more on that in a bit. take a look at what's happening across europe because after a couple of uglier days in the market, we're seeing something of a comeback now led by technology, retail stocks are also in the green, food and beverages, autos among the sectors dragging on the in-dek. we can take a closer look at the bourses. ibex is
, israel launches a massive military operation in response to hamas. >> gold also higher. one of those days where energy went higher and stocks went lower. we're setting lows right now. the dow down 126 points at the 12,629 level. the nasdaq and s&p are also moving lower. the nasdaq has moved into correction territory, down about 10% from its highs set earlier this year. the s&p is down sharply as well at this hour. so it was those fed minutes, the continued fears we may go over the fiscal cliff as the negotiations are being carried out so far in a very public arena right now. we are off the worst levels of the day, but will these concerns keep investors out of the market right now? let's talk about that, shall we? >> that's what we want to in today's "closing bell" exchange. neil, let me kick this off with you. good to see you. thanks for joining us. as somebody who's putting capital to work in this market, you see a market that is down 600 points on the dow industrials. just since the election, that's 4% declines since the election on november 6th. what do you want to do here? do you want
Search Results 0 to 5 of about 6